Project name
Villas by the lake (FULLY FUNDED)
Location
Villas by the Lake, Atlanta, Georgia, USA
Initiator
REALIANCE USA B.V.
Local partner
Category
256 garden style rental apartments (2003)
Expected investment term
5 years
Exit strategy
Sale to an (end)investor
Total investment
US$ 32,289,875
Bank loan
US$ 21,375,000
Equity
US$ 10,914,875
Structure
Direct participation in Villas by the Lake Apartments LP
Participation
Minimum US$ 125,000 (228 participations of US$ 25,000)
Projected gross capital growth
80.7% over 5 years
Projected gross ROI
16.1% per annum
Unique selling points
The complex Villas by the Lake has a mix of 2- and 3-room apartments with interesting floorplans with both a living- and dining room, in which the entire complex has modern ceiling heights.
The complex also has a strong renovation potential, certainly given her location directly at a large lake.
Location of Villas by the Lake is visible from Georgia Highway 85, favorable located in relation to employment– and retail centers in Jonesboro, but also in close proximity to the largest airport of the world, Hartsfield Jackson International Airport.
Of the 12 largest cities in the US, Atlanta has the second strongest employment growth, which results in an increasing demand for rental apartments.
Rents in the submarket on the south side of Atlanta are too low to support new developments, so future competition will be limited to the current inventory.
As investor and property manager, the local partner is very experienced in similar projects in the south of the US, in which they built up a portfolio of over 18,000 apartments.
For more information you can reach REALIANCE at +31 (0) 20 21 03 180 or invest@realiance.nl
